Insurance Regulatory Authority, Kenya Jobs and Salaries

 

Insurance Regulatory Authority, commonly known as IRA, offers several jobs for Kenyans. The institution is one of the best paying government parastatals in Kenya.

When joining IRA, you are required to apply for available job opportunities at the company or apply an intern. Since it usually takes long for the institution to have open job vacancies, students and job seekers who have done their research well often drop their CVs at IRA headquarters, and the position they apply for is internship.

Common courses required for employment at IRA

Since IRA is responsible for overseeing the activities of Insurance companies in Kenya, employees who work for the institution must have the following qualifications

1. Actuarial Science
2. Statistics
3. Insurance
4. Risk Management
5. Bachelor of Commerce
6. Bachelor of computer Science/IT/Computer Engineering
7. Bachelor of Accounting
8. CFA
9. Law

If you have any of the qualifications above, chances of securing employment are high.

Most common job titles and qualifications required

Insurance Regulatory Authority, Kenya Jobs and Salaries

JOB DESCRIPTION

	JOB TITLE	Manager, Supervision (Special Projects)
	DIVISION	Technical
	GRADE	IRA 3
	IMMEDIATE SUPERVISOR	Chief Manager, Technical

 

• PURPOSE OF THE JOB (JOB SUMMARY)

Responsible for establishing relationships with external stakeholders, ensuring that linkages and synergies with other IRA programmes and task forces/committees are exploited and focused to achieving IRA’s goals and objectives.

• PRINCIPAL RESPONSIBILITIES

Key Responsibilities	Main task
Policy development	·  Establish   operational   priorities,   set,   implement   and   monitor
	performance targets for the review of the Insurance Act.
	·  Provide  technical  oversight  in  development  of  Policy  Framework
	Paper and regulations on micro insurance.
	·  Support  the  coordination,  management  and  provision  of  technical
	oversight to various committees and task forces by consolidating a
	working   culture   that   consistently   achieves   and/or   surpasses
	established targets and standards.
	·  Provide  technical  advice  and  support  on  strategy  and  policy  for
	development of the insurance act.
	·  Manage reporting activities including consolidation of  reports, and
	ensuring  adherence  to  deadlines  and  regulatory  requirements  for
	companies under statutory management;
	·  Participate  and  provide  quality  oversight  and  technical  input  in
	consultancies and activities as specified in the terms of reference for
	each of the respective consultancies / special assignments that may
	arise from time to time.
Staff supervision and	· Coordinate  and  supervise  performance  of  the  tasks  carried  out  by
administration	supervision officers in the Section

 

Key Responsibilities       Main task

• Participate in preparation, implementation and control the departmental budget and work plans
• Ensure department Standard Operating Procedures and Service Charter are adhered to and implemented
• Liaise with IRA departments and external stakeholders so as to ensure a coordinated approach to discharging the mandate of the Authority
• Supervise and develop section staff

REQUIRED QUALIFICATIONS

Education and knowledge

• Bachelor’s degree in insurance / finance / accounting / actuarial:
• Professional insurance qualification e.g. ACII / AIIK/CPA(K)/ ACCA/ CFA/ CSIA
• Member of the ACII/ AIIK or similar bodies; and
• Proficiency in ICT
• A Masters’ degree in a relevant field will be an added advantage

Experience

• Eight (8) years’ experience in the insurance industry, three (3) of which should have been at a supervisory level;
• Experience in preparation of analytical and numerical reports;
• Experience analysing financial and insurance reports; and

Skills

• Strong communication, reporting and speech writing skills;
• Good mentorship and coaching skills;
• Strong organization and inter personal skills; and
• Good analytical, investigative, auditing and inspection skills
• Good team management and leadership skills

Competences

• Professionalism;
• Ethical and integrity;
• Strategic thinking and team player; and
• Ability to work under pressure, prioritize and multi task

JOB DESCRIPTION

	JOB TITLE	Head, General Insurance Supervision
	DIVISION	Technical
	GRADE	IRA 4
	IMMEDIATE SUPERVISOR	Manager, Supervision

PURPOSE OF THE JOB (JOB SUMMARY)

Coordinate the supervision of regulated entities to ensure prudent regulation/supervision of all registered General insurance companies.

• PRINCIPAL RESPONSIBILITIES

 

Key Responsibilities	Main task
Policy   development	·	Ensure the risk profiling of all general insurance companies.
and implementation	·	Ensure that the risk profile for the general insurance companies is
		updated periodically.
	·	Ensure that the returns from the general insurance companies are
		received,  analyzed  and  periodic  reports  made  to  the  Manager
		Supervision
	·	Ensure that the risk status for all general insurance companies is up
		dated quarterly and reported to the head of market supervision
	·	Coordinate and ensure that all approvals are granted in accordance
		with the insurance Act.
	· Ensure that unaudited and audited accounts and actuarial reports of all
		general insurance companies are received, analyzed deviations noted
		information used for decision making.
	· Review  applications  for  registration  and  licensing  of  all  general
		insurance companies in accordance with the requirements of the Act.
	·	Supervise the on-site and off-site inspection of all general insurance
		companies.
	·	Ensure  compliance  of  all  general  insurance  companies  with  the

 

Key Responsibilities       Main task

 

provisions of the Insurance Act and other supervisory guidelines.

 

• Ensure the divisional SOPs and service charters are adhered to and implemented.

REQUIRED QUALIFICATIONS

Education and knowledge

• Bachelors’ degree in insurance / finance / accounting / actuarial:
• Professional insurance qualification e.g. ACII / AIIK/CPA(K)/ ACCA/ CFA/ CSIA
• Member of the ACII/ AIIK or similar bodies; and
• Proficiency in ICT
• A Masters’ degree in a relevant field will be an added advantage
• Experience
• Eight (8) years’ experience gained in the insurance industry, two (2) of which should have been at a supervisory level;
• Experience in preparation of analytical and numerical reports;
• Experience analysing financial and insurance reports; and

Skills

• Strong communication, reporting and speech writing skills;
• Good mentorship and coaching skills;
• Strong organization and inter personal skills; and
• Good analytical, investigative, auditing and inspection skills
• Good team management and leadership skills

Competences

• Professionalism;
• Ethical and integrity;
• Strategic thinking and team player; and
• Ability to work under pressure, prioritize and multi task

		JOB DESCRIPTION
	JOB TITLE		Senior Supervision Officer
	DIVISION		Technical
	GRADE		IRA 5
	IMMEDIATE SUPERVISOR		Head of Section

 

1.0          PURPOSE OF THE JOB (JOB SUMMARY)

Carrying out on site and off site supervision of regulated entities.

• PRINCIPAL RESPONSIBILITIES

Key Responsibilities	Main task
Policy development	·	Carry out risk profiling of regulated entities.
	·	Continuously monitor, evaluate and report on the risk status of
		each of the regulated entities
	·	Carry out offsite and on site surveillance of the regulated entities
	·	Analyse any requests for approval under the Insurance Act
	·	Analyse and recommend approval of reinsurance programme
Industry Analysis	·	Analyse  applications  and  recommend  for  registration  and
		licensing of regulated entities in accordance with the requirements
		of the Insurance Act
	·	Analysis of annual accounts for regulated entities
	·	Process lien applications as provided under the Insurance Act
Policy development and	·	Participate in the formulation and development of policies and
Implementation		procedures
	·	Participate in the coordination of training for members of the
		industry.
	·	Coordinate development and growth of insurance agency force at

 

Key Responsibilities	Main task
		the counties
	·	Assist  in  the  preparation  of  policy  papers,  briefs  and  board
		papers.
	·	Monitor the implementation of performance contract issues and
		the strategic plan in the Technical division.

 

REQUIRED QUALIFICATIONS

Education and knowledge

• Bachelors’ degree in economics, insurance, accounting, actuarial or equivalent;
• Professional qualification i.e. AIIK, ACII, CPA, ACCA, or equivalent qualification;
• Member of a professional body
• Proficiency in ICT
• A Masters’ degree in a relevant field will be an added advantage

Experience

• Seven (7) years’ experience in the insurance industry, audit or accounting;
• Experience in analysis of financial and statistical reports; and
• Experience in analysis of financial and statistical reports.

Skills

• Good communication and reporting skills;
• Good supervision skills;
• Strong organization and inter personal skills; and
• Good analytical, investigative, auditing and inspection skills

Competences

Professionalism;

• Ethical and integrity;
• Strategic thinking and team player; and
• Ability to work under pressure, prioritize and multi task

		JOB DESCRIPTION
	JOB TITLE		Consumer Protection Officer
	DIVISION		Legal Affairs
	GRADE		IRA 6
	IMMEDIATE		Head, Consumer Protection
	SUPERVISOR

 

1.0          PURPOSE OF THE JOB (JOB SUMMARY)

Responsible for receiving and implementing effective complaint handling policies and procedures

PRINCIPAL RESPONSIBILITIES

Key Responsibilities	Main task
Consumer Protection	·  Register  complaints,  acknowledge  receipt  and  initiate  the
	process of dispute resolution
	·  Classify and categorise registered complaints
	·  Maintain a data-base and continuously track and monitor the
	status  of  all  complaints  against  documented  performance
	standards
	·  Prepare periodic reports showing detailed statistics and trends
	on complaints received
	·  Resolve complaints from the public
	·  Review  outstanding  complaints  and  initiating  follow  up  to
	ensure resolution

 

REQUIRED QUALIFICATIONS

Education and knowledge

• Bachelors’ degree in a business, insurance or related field;
• ACII/AIIK Insurance qualifications; and
• Proficiency in ICT
• A Masters’ degree in a relevant field will be an added advantage

Experience

• Six (6) years’ relevant experience;
• Specialist knowledge and experience in consumer protection; and
• Knowledge of insurance

Skills

• Analytical skills;
• Communication and reporting skills; and
• Organization and inter personal skills

Competences

• Professionalism;
• Ethical and integrity;
• Team player; and
• Ability to work under pressure, prioritize and multi task

JOB DESCRIPTION

	JOB TITLE	Financial Analyst
	DIVISION	Technical
	GRADE	IRA 8
	IMMEDIATE SUPERVISOR	Assistant Manager, Financial Analysis

 

PURPOSE OF THE JOB (JOB SUMMARY)

Responsible for analyzing data and identifying underlying trends from the Insurance Industry and preparing reports required for industry supervision.

PRINCIPAL RESPONSIBILITIES

Key Responsibilities	Main task
Analysing and Interpreting	·	Analyze  and  interpret  financial  statements,  notes  to  the
Financial Reports		financial statements and returns received from the insurance
		industry;
	·  Systematically analyze financial statements and returns with a
		view to calculate various ratios, trends, forecasts and assessing
		them against the industry benchmarks periodically;
	·	Evaluate   financial   statements   and   returns   to   ensure
		disclosures;
	·  Receive, analyze and report on the industry monthly summary
		of  claims  returns  to  determine  claims  movement  in  the
		industry;
	·  Analysis and interpretation of monthly premium levy returns
		submitted by the insurance industry players and preparation
		of periodic reports;
	·  Analysis of monthly summary of claims to determine claims
		movement in the insurance industry;
	·  Prepare periodic reports on performance, trends analysis and
		forecasting   of   insurance   companies   and   insurance
		intermediaries;

 

Key Responsibilities	Main task
	·  Identify, monitor, and analyse market, financial developments
	and  other  market  environmental  factors  so  as  to  identify
	underlying trends for supervision purposes.
Reporting	·  Participate in the preparation of the insurance industry annual
	report;

 

• Developing and updating various performance indicators and industry benchmarks & averages.

REQUIRED QUALIFICATIONS

Education and knowledge

• Bachelor’s degree in finance, actuarial, statistics, accounting or economics;
• Professional qualification, e.g. CFA, CPA (K), CSIA or Actuarial science; and
• Proficiency in ICT
• A Masters’ degree in a relevant field will be an added advantage

Experience

• One (1) year experience in Financial Analysis;
• Experience in preparation of analytical and numerical reports; and
• Experience analysing financial and statistical reports.

Skills

• Strong communication and reporting skills;
• Strong organization and inter personal skills; and
• Good analytical and presentation skills

Competences

• Professionalism;
• Ethical and integrity;
• Strategic thinking; and
• Ability to work under pressure, prioritize and multi task

		JOB DESCRIPTION
	JOB TITLE		Senior Legal Officer
	DIVISION		Legal Affairs
	GRADE		IRA 5
	IMMEDIATE		Corporation Secretary/Chief Manager,
	SUPERVISOR		Legal Affairs

PURPOSE OF THE JOB (JOB SUMMARY)

Responsible to the Corporation Secretary/Chief Manager, Legal Affairs for effective review and interpretation of the Insurance Act and other Statutes. Drafting of leases, contracts, agreements and other legal documents. Ensuring effective litigation management and alternative dispute resolution. Giving necessary support to the insurance appeals tribunal. Monitoring implementation of the compliance strategy. Providing administrative services for board secretarial duties.

PRINCIPAL RESPONSIBILITIES

Key	Main task
Responsibilities
Legal Affairs	·  To assist the Corporation Secretary with the formulation, development
	and implementation of corporate legal policies and procedures.
	·  To assist the Corporation Secretary in providing administrative services
	to the Board.
	·  To assist the Corporation Secretary with the provision of legal advice
	and  interpretation  to  the  Authority  on  matters  that  relate  to  the
	Insurance Act and other related laws.
	·  To attend to litigation matters and brief the Corporation Secretary as
	appropriate on court case proceedings and possible courses of action to
	take.
	·  To liaise with the Attorney General’s Chambers and as appropriate on
	representation of court cases.
	·  To draft proposed amendments to the Insurance Act, presentation of
	any document or instrument that requires  approval by the  Attorney

 

Key	Main task
Responsibilities
	General or any Government Office/Department.

 

• To provide legal advice to other Sections/Divisions on various matters of law.
• To liaise with the Consumer Protection Section in complaint resolution activities as may be necessary.
• To assist the Corporation Secretary with the formulation, implementation and monitoring of the divisional budget, work plans and procurement plans.
• To offer legal support to the supervision team in the course of inspections, approvals and enforcement pursuant to the Insurance Act, Regulations and Guidelines.
• To prepare in consultation with Corporation Secretary, legal drafts and negotiate contracts, leases, formal agreements and other legal instruments between the Authority and other parties and participate in settlement and arbitration of disputes.
• To ensure compliance by the Authority with the Insurance Act and other relevant laws.
• To carry out any other duties that may be assigned from time to time.

REQUIRED QUALIFICATIONS

Education and knowledge

• Bachelor’s degree in Law from a recognized university
• Certified Public Secretary and a Member of the ICPSK in good standing.
• Post graduate Diploma in Legal Education from Kenya School of Law.
• Must be an Advocate of the High Court of Kenya and a Member of the Law Society of Kenya in good standing.
• A Masters’ degree in a relevant field will be an added advantage

Experience

• Minimum Seven (7) years’ experience in providing legal services as well as demonstrated experience in drafting, litigation management and law enforcement.

PERSONAL ATTRIBUTES

• Excellent communication, listening, negotiation, analytical, influencing, proposal and report writing skills.
• Excellent computer skills specifically on MS Office applications.
• Excellent investigative, research and drafting skills.
• Excellent interpersonal skills and team player.
• Maturity, confidentiality, impartiality and trustworthiness.
• High level of integrity.
• Ability to work under pressure, prioritize and multi task.

	JOB DESCRIPTION
	JOB TITLE	Internal Audit & Risk Management
		Officer
	DIVISION	Internal Audit & Risk Management
	GRADE	IRA 6
	IMMEDIATE	Head, Internal Audit & Risk
	SUPERVISOR	Management

 

• PURPOSE OF THE JOB (JOB SUMMARY)

Responsible to the Head of Internal Audit and Risk Management for undertaking independent, value-adding and objective assessments aiming to improve operational efficiency, risk management, internal controls system and governance processes.

PRINCIPAL RESPONSIBILITIES

Key Responsibilities	Main task
Internal audit and risk	·  Conduct audits of assigned Authority functions in line with the
management	audit work plan
	·  Review  the  application  and  effectiveness  of  risk  management
	procedures   to   ensure   that   the   Authority’s   interests   are
	safeguarded against all risks.
	·  Prepare  assignment  reports  in  accordance  with  professional
	standards  for  review  by  the  Head,  Internal  Audit  &  Risk
	Management.
	·  Evaluate progress and effectiveness of action taken to implement
	audit  recommendations  received  from  internal  and  external
	audits.
	·  Review  the  progress  made  in  achieving  performance  contract
	objectives
	·  Coordinate  risk  management  activities  and  prepare  progress
	reports on a quarterly basis.
	·  Any other duties that may be allocated by the supervisor

REQUIRED QUALIFICATIONS

Education and knowledge

• Bachelor’s degree in Finance or Accounting or degree in a Business related field;
• Professional qualification like CIA/ CPA/ CISA/Risk Management related certifications or equivalent; and
• Proficiency in ICT
• A Masters’ degree in a relevant field will be an added advantage

Experience

• Six (6) years internal or external audit experience gained from reputable organizations; and
• Experience in carrying out performance and value for money audits
• Experience in carrying out risk assessments

Skills

• Strong analytical and numerical skills;
• Good communication and reporting skills; and
• Strong organization and inter personal skill

Competences

• Professionalism;
• Ethical and integrity;
• Team player; and
• Ability to work under pressure, prioritize and multi task

		JOB DESCRIPTION
	JOB TITLE		Senior Research Officer
	DIVISION		Policy, Research and Development
	GRADE		IRA 5
	IMMEDIATE		Chief Manager, Policy Research and
	SUPERVISOR		Development

 

• PURPOSE OF THE JOB (JOB SUMMARY)

 

Responsible for planning, designing and conducting research studies and surveys aimed at developing strategies for developing and growing the insurance industry and overall monitoring and evaluation strategy, system and support.

• PRINCIPAL RESPONSIBILITIES

Key Responsibilities	Main task
Research Design and	·  Identify research areas, develop research proposals and execute
Implementation	research studies on the insurance industry
	·  Design  data  collection  methodologies  and  research  related
	intervention in IRA’s priority programme areas
	·  Participate in research surveys.
	·  Examine and analyze policy statements on insurance industry
	trends   and   developments   from   a   local,   regional   and
	international perspective
	·  Publish research outputs and disseminate such results to the
	insurance   industry   and   other   stakeholders   in   seminars,
	workshops and conferences
	·  Provide support in report writing and dissemination of research
	papers and policy briefs
Monitoring and Evaluation	·  Integrate  research  into  monitoring  and  evaluation  of  IRA’s
	projects and programmes.
	·  Offer monitoring and evaluation support to other departments

 

Key Responsibilities	Main task
Staff Supervision and	· Coordinate	performance of	the tasks carried	out by	Research
Administration	Officers
	· Participate	in  preparation,	implementation	and	M&E   of
	department’s work plans
	· Ensure departmental Standard Operating Procedures and Service
	Charter are adhered to and implemented
	· Supervise and develop section staff

REQUIRED QUALIFICATIONS

Education and knowledge

• Master’s degree in social studies with specialization in economics, statistics or development studies;
• Bachelor’s degree in social sciences or related field;
• Specialist knowledge in using at least one statistical package; and
• Proficiency in ICT

Experience

• Seven (7) years research experience gained from reputable organizations;
• Diverse experience in identifying research areas, development of research tools, report writing and dissemination of research outputs; and
• Experience in project management, monitoring and evaluation.

Skills

• Proficiency in use of statistical packages i.e STATA, SPSS, SAS etc
• Strong communication and reporting skills;
• Project management skills;
• Research and analytical skills;
• Writing and publication skills; and
• Strong organization and inter personal skills

Competences

• Professionalism;
• Ethical and integrity;
• Strategic thinking; and
• Ability to work under pressure, prioritize and multi task

		JOB DESCRIPTION
	JOB TITLE		Librarian / Resource Centre Officer
	DIVISION		Policy Research and Development
	GRADE		IRA 6
	IMMEDIATE		Chief Manager, Policy Research and Development
	SUPERVISOR

 

PURPOSE OF THE JOB (JOB SUMMARY)

Responsible for developing, planning and implementing effective knowledge management programs and activities and managing the Authority’s resource center/library.

PRINCIPAL RESPONSIBILITIES

Key Responsibilities	Main task
Library Management	·	Manage	the  Authority’s  Resource  Centre  and  coordination  of
and Administration		library activities
	·  Facilitate ordering and purchasing of library books, information
		materials	and stationery
	·  Perform  original  cataloguing  and  classification  of  print,  audio-
		visual  and  electronic  resources  and  determine  the  type  of
		cataloguing required
	·  Develop and maintain special indexing systems and files for special
		collections
	·  Ensure an accurate inventory of resources and efficient retrieval of
		library resources by users
	·  Maintain library records using file index and inventory movement
		register
	·	Prepare	worn  out  library  materials  for  binding  and  ensure
		compliance on disposal and destruction procedures as provided by
		the Government Policy and procedures

 

Key Responsibilities

Main task

 

• Creating avenues for exchange of information, converting data into valuable information and ensuring its accessibility and usage.
• Develop mechanisms for leveraging on existing knowledge within the Authority
• Dissemination of knowledge and responding to queries on Knowledge Management tools and resources.
• Develop and manage convenient, accessible library and information services
• Prepare reports related to library and information services, technology and media services, resources and activities.
• Ensure the Library is cleaned and fumigated regularly to rid of dust and pests that can destroy learning materials and records

REQUIRED QUALIFICATIONS

Education and knowledge

• Bachelor’s Degree in Information Sciences or a Bachelor of Library & Information Sciences or a degree in a relevant field;
• Knowledge of ICT
• A Masters’ degree in a relevant field will be an added advantage

Experience

• Six (6) years records management experience gained from reputable organizations;
• Good experience in archiving and database management.

Skills

• Good communication and reporting skills;
• Good organization and inter personal skills;
• Good team work skills; and
• Good supervisory skills

Competences

• Professionalism;
• Ethical and integrity; and
• Ability to work under pressure, prioritize and multi task

		JOB DESCRIPTION
	JOB TITLE		ICT Officer – Database Administrator
	DIVISION		ICT
	GRADE		IRA 6
	IMMEDIATE		Head, ICT
	SUPERVISOR

 

PURPOSE OF THE JOB (JOB SUMMARY)

Responsible for the administration, performance tuning, capacity planning, management and support of the Authority’s database systems. The DBA will also be responsible for ensuring that integrity and consistency of the databases is maintained at all times.

PRINCIPAL RESPONSIBILITIES

Key Responsibilities	Main task
Database Administration	§ Database administration and support including backup/recovery
	and maintenance;
	§ Supporting  the  development  and  deployment,  system  testing,
	user acceptance, training and production database environment;
	§ Ensure  availability  of  all  databases  at  all  times  and  Ensure
	security standards for databases and data integrity are adhered to
	at all times;
	§ Receive and conclusively resolve all database related incidents in
	a timely manner;
	§ Identify and implement Best Practices in database administration;
	§ Design  and  develop  Business  Continuity  Plans  and  High
	Availability solutions for critical systems in order to achieve zero
	downtime during maintenance and failures;
	§ Assist the ICT team in hardware and support requirements for
	database administration;
	·  Develop retention policies and architecture for all databases;
	·  Ensure optimal performance of all systems is maintained by way

 

Key Responsibilities	Main task
	of conforming to the Service Level Agreements in place;

 

• Allocating system storage and planning future storage requirements for the database system and recommend upgrades to the database server(s) and DBMS;
• Monitor performance and manage parameters to provide fast query responses to front-end users;
• Undertake back-end organization of data and front-end accessibility for end-users;
• Plan for backup and recovery of database information.

REQUIRED QUALIFICATIONS

Education and knowledge

• Bachelor’s degree in Computer Science/Information Technology or related field; and
• Professional qualifications in database administration such as MCDBA
• A Masters’ degree in a relevant field will be an added advantage

Experience

• Six (6) years’ experience in a similar position;
• Specialist knowledge and diverse experience in database administration; and
• Experience in ICT hardware and software maintenance.

Skills

• Problem solving and analytical skills;
• Strong communication and presentation skills; and
• Strong organization and inter personal skills.

Competences

• Professionalism;
• Ethical and integrity;
• Strategic thinking; and
• Ability to work under pressure, prioritize and multi task

IRA Salaries in Kenya